11 Temmuz 2012 Çarşamba
10 Temmuz 2012 Salı
9 Temmuz 2012 Pazartesi
Coffee with my muse
To contact us Click HERE
"It's about time!" my muse says when she sees me sitting at the kitchen table typing away at my lap top.
"Hmmmm...." I mumble, still fixated on the screen.
She picks up my Wonder Woman coffee cup. "You're writing again."
"Trying to..." My voice shows how annoyed I'm feeling, but as usual she doesn't seem to care.
"Your coffee's cold." She takes a sip. "And you didn't put enough cream in it. You know I like a lot of milk in my coffee."
I stop typing and look at her. "Who's coffee?"
"You need a warm up." She crosses the room to the black and gray pot half filled with dark, strong coffee and pours some into my mug. Then she opens the carton of milk I left on the counter and fills the mug to the rim. Sipping, she sighs. "Perfect."
"Who's coffee?" I ask again.
Sitting at the table beside me, she drinks deeply and then nods at my lap top. "What are you working on?"
"The kids book."
"Good. I'm very excited about this project. It's a great subject."
"I'm glad you approve."
"I do. And then what?"
"Once this is done I need to finish editing the new manuscript for the press."
"Wonderful! And then?"
"I finish my play."
"Excellent. I can't wait to read it. And after that?"
"I finish my coffee." I take the mug out of her hands and hold it tightly.
She raises an eyebrow at me. "Touchy."
"Did you need something?"
"Just seeing what you're doing."
"I'm writing. Isn't that what you wanted me to do?"
"Yes. But I'm making certain you're really writing and not just commenting on Facebook."
"Facebook can be very stimulating."
"True, but it's not writing." She taps my laptop. "This is." Rising from her seat she smiles at me. "Carry on."
I set my mug on the table and start typing again, but I've lost my train of thought so I have to pause for a moment. Reaching for my mug, I realize it's gone.
Bitch
"Hmmmm...." I mumble, still fixated on the screen.
She picks up my Wonder Woman coffee cup. "You're writing again."
"Trying to..." My voice shows how annoyed I'm feeling, but as usual she doesn't seem to care.
"Your coffee's cold." She takes a sip. "And you didn't put enough cream in it. You know I like a lot of milk in my coffee."
I stop typing and look at her. "Who's coffee?"
"You need a warm up." She crosses the room to the black and gray pot half filled with dark, strong coffee and pours some into my mug. Then she opens the carton of milk I left on the counter and fills the mug to the rim. Sipping, she sighs. "Perfect."
"Who's coffee?" I ask again.
Sitting at the table beside me, she drinks deeply and then nods at my lap top. "What are you working on?"
"The kids book."
"Good. I'm very excited about this project. It's a great subject."
"I'm glad you approve."
"I do. And then what?"
"Once this is done I need to finish editing the new manuscript for the press."
"Wonderful! And then?"
"I finish my play."
"Excellent. I can't wait to read it. And after that?"
"I finish my coffee." I take the mug out of her hands and hold it tightly.
She raises an eyebrow at me. "Touchy."
"Did you need something?"
"Just seeing what you're doing."
"I'm writing. Isn't that what you wanted me to do?"
"Yes. But I'm making certain you're really writing and not just commenting on Facebook."
"Facebook can be very stimulating."
"True, but it's not writing." She taps my laptop. "This is." Rising from her seat she smiles at me. "Carry on."
I set my mug on the table and start typing again, but I've lost my train of thought so I have to pause for a moment. Reaching for my mug, I realize it's gone.
Bitch
Fourth anniversary of the launch of the first book I published, or, how I became an Orientation and Mobility teacher.
To contact us Click HERE
This past weekend marks the four year anniversary of when I published the first book from my press, Medusa's Muse. Traveling Blind: Life Lessons from Unlikely Teachers, by Laura Fogg, is a memoir of Laura's 30 + years teaching children with vision impairments, and ultimately what those children taught her about life, love, loss, and joy. Laura has been my daughter's teacher since Queen Teen was 3, and when I discovered Laura was also a talented writer, I offered to publish her book. After a year-and a half of edits, revisions, and debates over cover design and font choices, her book was launched at the California Association of Orientation and Mobility Specialists Conference. The other teachers were excited and impressed, and we sold almost 100 copies in two days. Laura was ecstatic and I was thrilled. I was also intrigued by the other O and M teachers I met at the conference and the work they so obviously loved doing. A few days after the launch of Traveling Blind, I decided to go to Graduate School and become an O and M teacher too.
Four years later, I attended the Orientation and Mobility Conference again, this time as a credentialed O and M Specialist with a Master's Degree and a job working side-by-side with Laura. I'm still a publisher, but I'm also a teacher, working with visually impaired students throughout all of Mendocino County. It was a long, exhausting crawl to get my degree, as many of you saw if you've been reading my blog for the past three years, but so worth it. I love teaching, I love Orientation and Mobility, and I love my students.
The conference is held every other year in Monterey at a hotel right on the beach. About half of my classmates from SF State were there, as were my teachers. My main focus as a teacher was learning about GPS systems for the visually impaired because I have a student who may benefit from using such a device (see, I already sound like a teacher. "may benefit from using such a device." lol). On Saturday was a GPS treasure hunt in downtown Monterey where teams of six competed against each other to find all the clues and get to the last location before anyone else. Our leader was a visually impaired man who just so happens to be the President and CEO of Sendero Group, the manufacturer of the GPS we were using. Is that why we smoked the other teams, arriving 20 minutes before anyone else at the bar, where we waited near a warm fire and drank cold margaritas? But the best moments for me were when I got to spend time with my classmates, catching up on our lives and our teaching jobs while sharing wine and champagne. I've missed everyone so much! It's like we're part of a submarine crew, a small group of highly trained people sharing very specific experiences that hardly anyone else can really understand.
There was a raffle to raise money for the scholarship fund, so I donated four copies of Traveling Blind. As I was sitting in the audience listening to a speaker talk about the pros and cons of using GPS on a smart phone, it suddenly hit me how much my life has changed since the first time I was at this conference. Last time I was a publisher sitting behind a table covered in copies of Laura's book. Now I'm a teacher, just like Laura.
I'll always be a book publisher; no way will I give that up. But it's very hard to make a living publishing books, so I teach to support my book habit. Thank goodness I love my "real" job.
This past weekend marks the four year anniversary of when I published the first book from my press, Medusa's Muse. Traveling Blind: Life Lessons from Unlikely Teachers, by Laura Fogg, is a memoir of Laura's 30 + years teaching children with vision impairments, and ultimately what those children taught her about life, love, loss, and joy. Laura has been my daughter's teacher since Queen Teen was 3, and when I discovered Laura was also a talented writer, I offered to publish her book. After a year-and a half of edits, revisions, and debates over cover design and font choices, her book was launched at the California Association of Orientation and Mobility Specialists Conference. The other teachers were excited and impressed, and we sold almost 100 copies in two days. Laura was ecstatic and I was thrilled. I was also intrigued by the other O and M teachers I met at the conference and the work they so obviously loved doing. A few days after the launch of Traveling Blind, I decided to go to Graduate School and become an O and M teacher too.
Four years later, I attended the Orientation and Mobility Conference again, this time as a credentialed O and M Specialist with a Master's Degree and a job working side-by-side with Laura. I'm still a publisher, but I'm also a teacher, working with visually impaired students throughout all of Mendocino County. It was a long, exhausting crawl to get my degree, as many of you saw if you've been reading my blog for the past three years, but so worth it. I love teaching, I love Orientation and Mobility, and I love my students.
The conference is held every other year in Monterey at a hotel right on the beach. About half of my classmates from SF State were there, as were my teachers. My main focus as a teacher was learning about GPS systems for the visually impaired because I have a student who may benefit from using such a device (see, I already sound like a teacher. "may benefit from using such a device." lol). On Saturday was a GPS treasure hunt in downtown Monterey where teams of six competed against each other to find all the clues and get to the last location before anyone else. Our leader was a visually impaired man who just so happens to be the President and CEO of Sendero Group, the manufacturer of the GPS we were using. Is that why we smoked the other teams, arriving 20 minutes before anyone else at the bar, where we waited near a warm fire and drank cold margaritas? But the best moments for me were when I got to spend time with my classmates, catching up on our lives and our teaching jobs while sharing wine and champagne. I've missed everyone so much! It's like we're part of a submarine crew, a small group of highly trained people sharing very specific experiences that hardly anyone else can really understand.
There was a raffle to raise money for the scholarship fund, so I donated four copies of Traveling Blind. As I was sitting in the audience listening to a speaker talk about the pros and cons of using GPS on a smart phone, it suddenly hit me how much my life has changed since the first time I was at this conference. Last time I was a publisher sitting behind a table covered in copies of Laura's book. Now I'm a teacher, just like Laura.
I'll always be a book publisher; no way will I give that up. But it's very hard to make a living publishing books, so I teach to support my book habit. Thank goodness I love my "real" job.
It's Tax Time. Do you know where your receipts are?
To contact us Click HERE
The H and R Block office has reopened and there are signs all over town announcing deals on tax preparation. That can mean only one thing: it's tax time. The wonderful time of year when we all whimper at the pile of paperwork and forms demanding our immediate attention, realizing we've lost most of our receipts, and we have no idea if we got all of our 1099's and W2's from everyone we worked for.
This is also an excellent time of year to crack open that expensive bottle of scotch Uncle Jo gave us for Christmas.
When I was writing What You Need to Know to Be a Pro, I decided not to include a chapter about taxes because the tax code changes all the time. There is plenty of info throughout the book about keeping track of expenses in preparation of tax season, but I skipped specific info about filing. Instead, I research taxes every year and post my findings on this blog.
First, I found this video on ehow. It's more about keeping track of deductions rather than forms, but she explains receipts very well. The presenter in the video has a whole series about Freelance Writing.
Taxes & Being a Freelance Writer —powered by eHow.com
And here are a few articles I found this morning. Click the links to read the full article.
Writing.org Taxes for Freelancers
Did you earn your first income from freelancing last year? If so, you're in for a new adventure: calculating your income and Social Security taxes as a self-employed person.
The basic principle of paying freelance taxes is simple: You add up your income, deduct your expenses, and transfer the net profit or loss to Line 12, "Business income (or loss)," on Form 1040.
Unfortunately, what's simple in principle can be complicated in practice. Here are a few guidelines to help you get started:
Tax Issues for Freelance Writers
Here are some tips and strategies for thinking about your taxes. There are special circumstances that apply to freelance writers and other independent professionals, so I will highlight what you need to know to prepare your taxes.
Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, freelancers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees.
I really like this next article, written by a freelance writer and business expert.
Blue Inkwell Taxes for the Freelance Writer
Setting up shop as a freelance is easy enough. Unfortunately, most novices don’t think about the tax implications of what they’re doing until their first tax season rolls around. Then the questions pour out.
What do I have to claim?How do I deal with 1099s?What classifies as a deduction?Am I supposed to pay quarterly taxes?
I'll keep researching the tax code for 2011 and post what I find here. If you have any helpful articles, post the link in comments.
And good luck with the receipt hunt. Check your car. I found lots of Medusa receipts in mine.
This is also an excellent time of year to crack open that expensive bottle of scotch Uncle Jo gave us for Christmas.
When I was writing What You Need to Know to Be a Pro, I decided not to include a chapter about taxes because the tax code changes all the time. There is plenty of info throughout the book about keeping track of expenses in preparation of tax season, but I skipped specific info about filing. Instead, I research taxes every year and post my findings on this blog.
First, I found this video on ehow. It's more about keeping track of deductions rather than forms, but she explains receipts very well. The presenter in the video has a whole series about Freelance Writing.
Taxes & Being a Freelance Writer —powered by eHow.com
And here are a few articles I found this morning. Click the links to read the full article.
Writing.org Taxes for Freelancers
Did you earn your first income from freelancing last year? If so, you're in for a new adventure: calculating your income and Social Security taxes as a self-employed person.
The basic principle of paying freelance taxes is simple: You add up your income, deduct your expenses, and transfer the net profit or loss to Line 12, "Business income (or loss)," on Form 1040.
Unfortunately, what's simple in principle can be complicated in practice. Here are a few guidelines to help you get started:
Tax Issues for Freelance Writers
Here are some tips and strategies for thinking about your taxes. There are special circumstances that apply to freelance writers and other independent professionals, so I will highlight what you need to know to prepare your taxes.
Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, freelancers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees.
I really like this next article, written by a freelance writer and business expert.
Blue Inkwell Taxes for the Freelance Writer
Setting up shop as a freelance is easy enough. Unfortunately, most novices don’t think about the tax implications of what they’re doing until their first tax season rolls around. Then the questions pour out.
What do I have to claim?How do I deal with 1099s?What classifies as a deduction?Am I supposed to pay quarterly taxes?
I'll keep researching the tax code for 2011 and post what I find here. If you have any helpful articles, post the link in comments.
And good luck with the receipt hunt. Check your car. I found lots of Medusa receipts in mine.
What's New for 2009
To contact us Click HERE
This article contains information that effects your 2009 tax return.
Tax Break for New Car Purchases in 2009
Taxpayers who buy a new passenger vehicle in 2009 (after Feb. 16, 2009, and before Jan. 1, 2010) may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns. Thus the taxpayers can buy now get cash back later on their tax returns. The deduction is limited to the state and local sales and excise taxes paid on up to $49,500 of the purchase price of a qualified new car, light truck, motor home or motorcycle which has a gross vehicle weight rating of not more than 8,500 lbs. The special deduction is available regardless of whether a taxpayer itemizes deductions on their return.
The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.
If you are claiming standard deduction, with your tax return complete schedule L (Form 1040). Check box 40b on Form 1040. The sales taxes, local taxes and excise duty paid on the new car appear as increase in the standard deduction. It you are itemizing your deductions, the new car deduction will appear on line 7 of schedule A (Form 1040). Complete the worksheet for line 7 on the back of schedule A (Form 1040).
First $2,400 of Unemployment Benefits Tax Free for 2009
The American Recovery and Reinvestment Act, which includes making every person who receives unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits on their 2009 tax return. For a married couple, the exclusion applies to each spouse, separately. Thus, if both spouses receive unemployment benefits during 2009, each may exclude from income the first $2,400 of benefits they receive.
You must subtract $2,400 from the amount in box 1 of 1099-G and report it on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040-EZ. If married filing jointly, include any unemployment compensation received by your spouse that is more than $2,400.
Unemployed workers can choose to have income tax withheld from their unemployment benefit payments at a flat 10 percent. Unemployed workers who expect to receive more than $2,400 in benefits this year should consider having tax withheld from their benefit payments in excess of that amount.
First-Time Homebuyers Tax Credit
Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home in 2009 before Dec. 1, 2009 receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit either on their 2008 tax returns or on their 2009 tax returns. Read More...
Standard Deduction and Personal Exemption
Standard Deduction
Single ... $5,700 (add $1,400 for Blind/Elderly)
Married Filing Jointly ... $11,400 (add $1,100 for Blind/Elderly)
Head of Household ... $8,350 (add $1,400 for Blind/Elderly)
Married Filing Separately ... $5,700 (add $1,100 for Blind/Elderly)
Dependent ... Greater of $950 or sum of $300 and individual's earned income
Personal Exemption
$3,650
Temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children
The American Recovery and Reinvestment Act (ARRA) provides a temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children. The maximum EITC for this new category is $5,657. These changes apply to 2009 and 2010 tax returns.
The EITC credit begins to phase out at $21,420 for married taxpayers filing a joint return with children and completely phases out at $40,463 for one child, $45,295 for two children and $48,279 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $12,470 and completely phases out at $18,440.
Additional Child Tax Credit
Under ARRA more families will be eligible for the additional child tax credit, which is a refundable credit.
ARRA reduces the minimum earned income amount used to calculate the additional child tax credit to $3,000. Before ARRA, the minimum earned income amount was set to rise to $12,550. This change applies to tax years beginning in 2009 and 2010.
American Opportunity Credit for college education expenses
Under ARRA, the American Opportunity Credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. The credit can be claimed for four post-secondary education years instead of two, and it also adds required course materials to the list of qualifying expenses. The maximum annual credit is $2,500 per student. If you or your parents get the education credit, you cannot claim any type of education deduction.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.
If you choose to file as married filing separately you cannot take education credits, the deduction for student loan interest, or the tuition and fees deduction.
Homeowner's Energy Credit & Residential Energy Efficient Property Credit
Homeowner's energy credit is available for 2009 and 2010. The credit is thirty percent with a maximum of $1,500 for windows, doors, furnaces, water boilers, skylights, pellet stoves and insulation. Any credits received in previous years, do not effect this maximum credit amount.
For residential energy efficient property the credit is 30% of your costs of qualified property. Qualified properties include solar electric, solar water heating, fuel cell, small wind energy, and geothermal heat pump.
To take the credit, complete Form 5695 Residential Energy Credits. Enter the credit on line 52 of Form 1040 and check box c.
Making Work Pay and Government Retiree Credits
Taxpayers with earned income will get Making Work Pay credit. It is 6.2% of your earned income with a maximum of $400 ($800 if married filing jointly). You must file schedule M (Form 1040 or 1040A) to claim the credit. Include the credit on line 63 of Form 1040 or line 40 of Form 1040A. If you are filing Form 1040-EZ, include the credit on line 8 and do not file schedule M. Those with AGI of more than $95,000 ($190,000 if married filing jointly), nonresidents and dependents do not get this credit.
If you received a government pension or annuity in 2009, you may be able to take Government retiree credit. The credit is $250 ($500 if married filing joint return and both spouses received a qualifying pension or annuity). You can not take the credit if you received a $250 economic recovery payment during 2009. You must file schedule M (Form 1040 or 1040A) to claim the credit.
Cash for Clunkers
A $3,500 or $4,500 voucher or payment made for such a voucher under "cash for clunkers" (CARS) program to buy or lease a new fuel-efficient automobile is not taxable.
More Articles
Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. 2009 Filing Requirements
2. 2008 Filing Requirements
3. Filing Requirement for a Dependent
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax Return
1. Working in Two or More States
Income Tax
1. My Tax Refund?
Complete List of Articles
OctroTalk - instant messaging, P2P file transfer, VoIP, SIP calling, live video chat and video conference for Nokia S60 3rd., Window Mobile Smartphone and Pocket PC and Windows Desktop. Free Download http://www.octro.com/
Tax Break for New Car Purchases in 2009
Taxpayers who buy a new passenger vehicle in 2009 (after Feb. 16, 2009, and before Jan. 1, 2010) may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns. Thus the taxpayers can buy now get cash back later on their tax returns. The deduction is limited to the state and local sales and excise taxes paid on up to $49,500 of the purchase price of a qualified new car, light truck, motor home or motorcycle which has a gross vehicle weight rating of not more than 8,500 lbs. The special deduction is available regardless of whether a taxpayer itemizes deductions on their return.
The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.
If you are claiming standard deduction, with your tax return complete schedule L (Form 1040). Check box 40b on Form 1040. The sales taxes, local taxes and excise duty paid on the new car appear as increase in the standard deduction. It you are itemizing your deductions, the new car deduction will appear on line 7 of schedule A (Form 1040). Complete the worksheet for line 7 on the back of schedule A (Form 1040).
First $2,400 of Unemployment Benefits Tax Free for 2009
The American Recovery and Reinvestment Act, which includes making every person who receives unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits on their 2009 tax return. For a married couple, the exclusion applies to each spouse, separately. Thus, if both spouses receive unemployment benefits during 2009, each may exclude from income the first $2,400 of benefits they receive.
You must subtract $2,400 from the amount in box 1 of 1099-G and report it on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form 1040-EZ. If married filing jointly, include any unemployment compensation received by your spouse that is more than $2,400.
Unemployed workers can choose to have income tax withheld from their unemployment benefit payments at a flat 10 percent. Unemployed workers who expect to receive more than $2,400 in benefits this year should consider having tax withheld from their benefit payments in excess of that amount.
First-Time Homebuyers Tax Credit
Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home in 2009 before Dec. 1, 2009 receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit either on their 2008 tax returns or on their 2009 tax returns. Read More...
Standard Deduction and Personal Exemption
Standard Deduction
Single ... $5,700 (add $1,400 for Blind/Elderly)
Married Filing Jointly ... $11,400 (add $1,100 for Blind/Elderly)
Head of Household ... $8,350 (add $1,400 for Blind/Elderly)
Married Filing Separately ... $5,700 (add $1,100 for Blind/Elderly)
Dependent ... Greater of $950 or sum of $300 and individual's earned income
Personal Exemption
$3,650
Temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children
The American Recovery and Reinvestment Act (ARRA) provides a temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children. The maximum EITC for this new category is $5,657. These changes apply to 2009 and 2010 tax returns.
The EITC credit begins to phase out at $21,420 for married taxpayers filing a joint return with children and completely phases out at $40,463 for one child, $45,295 for two children and $48,279 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $12,470 and completely phases out at $18,440.
Additional Child Tax Credit
Under ARRA more families will be eligible for the additional child tax credit, which is a refundable credit.
ARRA reduces the minimum earned income amount used to calculate the additional child tax credit to $3,000. Before ARRA, the minimum earned income amount was set to rise to $12,550. This change applies to tax years beginning in 2009 and 2010.
American Opportunity Credit for college education expenses
Under ARRA, the American Opportunity Credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. The credit can be claimed for four post-secondary education years instead of two, and it also adds required course materials to the list of qualifying expenses. The maximum annual credit is $2,500 per student. If you or your parents get the education credit, you cannot claim any type of education deduction.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.
If you choose to file as married filing separately you cannot take education credits, the deduction for student loan interest, or the tuition and fees deduction.
Homeowner's Energy Credit & Residential Energy Efficient Property Credit
Homeowner's energy credit is available for 2009 and 2010. The credit is thirty percent with a maximum of $1,500 for windows, doors, furnaces, water boilers, skylights, pellet stoves and insulation. Any credits received in previous years, do not effect this maximum credit amount.
For residential energy efficient property the credit is 30% of your costs of qualified property. Qualified properties include solar electric, solar water heating, fuel cell, small wind energy, and geothermal heat pump.
To take the credit, complete Form 5695 Residential Energy Credits. Enter the credit on line 52 of Form 1040 and check box c.
Making Work Pay and Government Retiree Credits
Taxpayers with earned income will get Making Work Pay credit. It is 6.2% of your earned income with a maximum of $400 ($800 if married filing jointly). You must file schedule M (Form 1040 or 1040A) to claim the credit. Include the credit on line 63 of Form 1040 or line 40 of Form 1040A. If you are filing Form 1040-EZ, include the credit on line 8 and do not file schedule M. Those with AGI of more than $95,000 ($190,000 if married filing jointly), nonresidents and dependents do not get this credit.
If you received a government pension or annuity in 2009, you may be able to take Government retiree credit. The credit is $250 ($500 if married filing joint return and both spouses received a qualifying pension or annuity). You can not take the credit if you received a $250 economic recovery payment during 2009. You must file schedule M (Form 1040 or 1040A) to claim the credit.
Cash for Clunkers
A $3,500 or $4,500 voucher or payment made for such a voucher under "cash for clunkers" (CARS) program to buy or lease a new fuel-efficient automobile is not taxable.
More Articles
Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. 2009 Filing Requirements
2. 2008 Filing Requirements
3. Filing Requirement for a Dependent
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax Return
1. Working in Two or More States
Income Tax
1. My Tax Refund?
Complete List of Articles
OctroTalk - instant messaging, P2P file transfer, VoIP, SIP calling, live video chat and video conference for Nokia S60 3rd., Window Mobile Smartphone and Pocket PC and Windows Desktop. Free Download http://www.octro.com/
What's New for 2010
To contact us Click HERE
This article contains information that effects your 2010 tax return.
Due date of return.
File individual taxpayers the due date for 2010 tax return is April 18, 2011 instead of April 15, 2011.
Standard Deduction and Personal Exemption
Standard Deduction
Single ... $5,700 (add $1,400 for Blind/Elderly)
Married Filing Jointly ... $11,400 (add $1,100 for Blind/Elderly)
Head of Household ... $8,350 (add $1,400 for Blind/Elderly)
Married Filing Separately ... $5,700 (add $1,100 for Blind/Elderly)
Dependent ... Greater of $950 or sum of $300 and individual's earned income
Personal Exemption
$3,650
Standard mileage rates.
For 2010, the standard mileage rate for the cost of operating your car for business use is 50 cents a mile, for medical reasons is 16½ cents a mile for the cost of operating your car for determining moving expenses is 16½ cents a mile.
Limits on personal exemptions and overall itemized deductions ended.
For 2010, you do not lose part of your deduction for personal exemptions and itemized deductions, regardless of the amount of your adjusted gross income (AGI).
Temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children
The American Recovery and Reinvestment Act (ARRA) provides a temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children. The maximum EITC for this new category is $5,657. These changes apply to 2009 and 2010 tax returns.
The EITC credit begins to phase out at $21,420 for married taxpayers filing a joint return with children and completely phases out at $40,463 for one child, $45,295 for two children and $48,279 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $12,470 and completely phases out at $18,440.
Additional Child Tax Credit
Under ARRA more families will be eligible for the additional child tax credit, which is a refundable credit.ARRA reduces the minimum earned income amount used to calculate the additional child tax credit to $3,000. Before ARRA, the minimum earned income amount was set to rise to $12,550. This change applies to tax years beginning in 2009 and 2010.
American Opportunity Credit for college education expenses
Under ARRA, the American Opportunity Credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. The credit can be claimed for four post-secondary education years instead of two, and it also adds required course materials to the list of qualifying expenses. The maximum annual credit is $2,500 per student. Use Form 8863 Education Credit.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.
If you choose to file as married filing separately you cannot take education credits, the deduction for student loan interest, or the tuition and fees deduction.
Self-employed health insurance deduction.
Effective March 30, 2010, if you were self-employed and paid for health insurance, you may be able to include in your self-employed health insurance deduction any premiums you paid to cover your child who was under age 27 at the end of 2010, even if the child was not your dependent.
First-time homebuyer credit.
You generally cannot claim the credit for a home you bought after April 30, 2010. However, you may be able to claim the credit if you entered into a written binding contract before May 1, 2010, to buy the home before July 1, 2010, and actually bought the home before October 1, 2010. Also, certain members of the Armed Forces and certain other taxpayers have additional time to buy a home and take the credit.
Homeowner's Energy Credit & Residential Energy Efficient Property Credit
Homeowner's energy credit is available for 2009 and 2010. The credit is thirty percent with a maximum of $1,500 for windows, doors, furnaces, water boilers, skylights, pellet stoves and insulation. Any credits received in previous years, do not effect this maximum credit amount.
For residential energy efficient property the credit is 30% of your costs of qualified property. Qualified properties include solar electric, solar water heating, fuel cell, small wind energy, and geothermal heat pump.
To take the credit, complete Form 5695 Residential Energy Credits. Enter the credit on line 52 of Form 1040 and check box c.
Making Work Pay Credit
Taxpayers with earned income will get Making Work Pay credit. It is 6.2% of your earned income with a maximum of $400 ($800 if married filing jointly). You must file schedule M (Form 1040 or 1040A) to claim the credit. Include the credit on line 63 of Form 1040 or line 40 of Form 1040A. If you are filing Form 1040-EZ, include the credit on line 8 and do not file schedule M. Those with AGI of more than $95,000 ($190,000 if married filing jointly), nonresidents and dependents do not get this credit.
Roth IRAs
Beginning in 2010, you can make a qualified rollover contribution to a Roth IRA regardless of the amount of your modified AGI.Also, half of any income that results from a rollover or conversion to a Roth IRA from another retirement plan in 2010 is included in income in 2011, and the other half in 2012, unless you elect to include all of it in 2010.
More Articles
Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. 2009 Filing Requirements
2. 2008 Filing Requirements
3. Filing Requirement for a Dependent
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax Return
1. Working in Two or More States
Income Tax
1. My Tax Refund?
Complete List of Articles
OctroTalk for Winodws Phone 7. (Free App). Octrotalk version 1.0.3 is a Google Talk client for Windows Phone 7, which allows you to stay logged in to the Google Talk service, and receive incoming messages via push (in case app is not running in the foreground). OctroTalk supports both tile and push notifications. Download http://www.windowsphone.com/en-US/apps/42f332f9-4d13-42d2-8214-e290bbd54cde
Due date of return.
File individual taxpayers the due date for 2010 tax return is April 18, 2011 instead of April 15, 2011.
Standard Deduction and Personal Exemption
Standard Deduction
Single ... $5,700 (add $1,400 for Blind/Elderly)
Married Filing Jointly ... $11,400 (add $1,100 for Blind/Elderly)
Head of Household ... $8,350 (add $1,400 for Blind/Elderly)
Married Filing Separately ... $5,700 (add $1,100 for Blind/Elderly)
Dependent ... Greater of $950 or sum of $300 and individual's earned income
Personal Exemption
$3,650
Standard mileage rates.
For 2010, the standard mileage rate for the cost of operating your car for business use is 50 cents a mile, for medical reasons is 16½ cents a mile for the cost of operating your car for determining moving expenses is 16½ cents a mile.
Limits on personal exemptions and overall itemized deductions ended.
For 2010, you do not lose part of your deduction for personal exemptions and itemized deductions, regardless of the amount of your adjusted gross income (AGI).
Temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children
The American Recovery and Reinvestment Act (ARRA) provides a temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children. The maximum EITC for this new category is $5,657. These changes apply to 2009 and 2010 tax returns.
The EITC credit begins to phase out at $21,420 for married taxpayers filing a joint return with children and completely phases out at $40,463 for one child, $45,295 for two children and $48,279 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $12,470 and completely phases out at $18,440.
Additional Child Tax Credit
Under ARRA more families will be eligible for the additional child tax credit, which is a refundable credit.ARRA reduces the minimum earned income amount used to calculate the additional child tax credit to $3,000. Before ARRA, the minimum earned income amount was set to rise to $12,550. This change applies to tax years beginning in 2009 and 2010.
American Opportunity Credit for college education expenses
Under ARRA, the American Opportunity Credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. The credit can be claimed for four post-secondary education years instead of two, and it also adds required course materials to the list of qualifying expenses. The maximum annual credit is $2,500 per student. Use Form 8863 Education Credit.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.
If you choose to file as married filing separately you cannot take education credits, the deduction for student loan interest, or the tuition and fees deduction.
Self-employed health insurance deduction.
Effective March 30, 2010, if you were self-employed and paid for health insurance, you may be able to include in your self-employed health insurance deduction any premiums you paid to cover your child who was under age 27 at the end of 2010, even if the child was not your dependent.
First-time homebuyer credit.
You generally cannot claim the credit for a home you bought after April 30, 2010. However, you may be able to claim the credit if you entered into a written binding contract before May 1, 2010, to buy the home before July 1, 2010, and actually bought the home before October 1, 2010. Also, certain members of the Armed Forces and certain other taxpayers have additional time to buy a home and take the credit.
Homeowner's Energy Credit & Residential Energy Efficient Property Credit
Homeowner's energy credit is available for 2009 and 2010. The credit is thirty percent with a maximum of $1,500 for windows, doors, furnaces, water boilers, skylights, pellet stoves and insulation. Any credits received in previous years, do not effect this maximum credit amount.
For residential energy efficient property the credit is 30% of your costs of qualified property. Qualified properties include solar electric, solar water heating, fuel cell, small wind energy, and geothermal heat pump.
To take the credit, complete Form 5695 Residential Energy Credits. Enter the credit on line 52 of Form 1040 and check box c.
Making Work Pay Credit
Taxpayers with earned income will get Making Work Pay credit. It is 6.2% of your earned income with a maximum of $400 ($800 if married filing jointly). You must file schedule M (Form 1040 or 1040A) to claim the credit. Include the credit on line 63 of Form 1040 or line 40 of Form 1040A. If you are filing Form 1040-EZ, include the credit on line 8 and do not file schedule M. Those with AGI of more than $95,000 ($190,000 if married filing jointly), nonresidents and dependents do not get this credit.
Roth IRAs
Beginning in 2010, you can make a qualified rollover contribution to a Roth IRA regardless of the amount of your modified AGI.Also, half of any income that results from a rollover or conversion to a Roth IRA from another retirement plan in 2010 is included in income in 2011, and the other half in 2012, unless you elect to include all of it in 2010.
More Articles
Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. 2009 Filing Requirements
2. 2008 Filing Requirements
3. Filing Requirement for a Dependent
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax Return
1. Working in Two or More States
Income Tax
1. My Tax Refund?
Complete List of Articles
OctroTalk for Winodws Phone 7. (Free App). Octrotalk version 1.0.3 is a Google Talk client for Windows Phone 7, which allows you to stay logged in to the Google Talk service, and receive incoming messages via push (in case app is not running in the foreground). OctroTalk supports both tile and push notifications. Download http://www.windowsphone.com/en-US/apps/42f332f9-4d13-42d2-8214-e290bbd54cde
8 Temmuz 2012 Pazar
HIRE Act of 2010 - The Tax Man Giveth
To contact us Click HERE
On March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment Act better known as the HIRE Act of 2010. (Do you wonder how many people it took, or how long it took them, to come up with the name for this legislation that would create the acronym HIRE?) This act relieves employers from paying the social security portion or OASDI portion of the employment taxes on wages paid during 2010 to qualified workers.
CAUTION: There is no relief from the employer portion of Medicare taxes or any of the taxes that are withheld from the employee.
The OASDI portion of the employment tax is the 6.2% of the FICA taxes assessed on wages up to $106,800 during 2010. The maximum OASDI tax an employer must pay on any worker is $6,621.60. In essence, an employer will not have to pay this tax on wages paid between March 19, 2010 and December 31, 2010 to a qualified worker.
A qualified worker is one that is:
- Employed after February 3, 2010;
- Provides a signed affidavit that he has not been employed for more than 40 hours during the past 60 days;
- Isn't employed to replace another employee unless the other employee separated from employment either voluntarily or for cause (i.e., you can't fire the entire staff and then hire new ones simply to benefit from this new law); and
- Isn't related to the employer.
The tax relief that is attributable to the first quarter of 2010 will not be refunded, but will be applied to pay other payroll taxes that are due for the second quarter. After that, the employer will simply not have to remit the taxes. (This gives the IRS enough time to draft the new Form 941. There simply isn't time before Form 941 is due for the first quarter of 2010.)
New Resource For Nonprofits
To contact us Click HERE
Thomson Reuters/PPC has just published a brand new guide for nonprofits entitled Nonprofit Tax and Governance Guide: Helping Organizations Comply. Unlike other PPC materials that are published for the professional practitioner, this guide is published specifically for the nonprofit organization, its board members, and its staff. It covers various areas of governance, fundraising, compensation, and contributions. My husband, Frank Sommerville, and I were honored with the opportunity to assist in the writing of this new resource, so we are especially excited about its publication. The guide is full of helpful information as well as examples of policies, procedures, and other practical tools to assist you in operating a nonprofit organization. Any organization interested in more information about the publication can contact PPC at 1-800-431-9025.
Payroll Tax Responsibilities - A Gentle Reminder
To contact us Click HERE
A recent Tax Court memo decision serves as a good reminder that an organization is ultimately responsible for payroll tax deposits and filings even if the duties are delegated to an outside provider. In McNair Eye Center, Inc. v. Commissioner, TC Memo 2010-81, the owner of the eye center was held to be ultimately responsible for the timely deposit of payroll taxes despite the fact he hired an outside CPA to take on those responsibilities. The CPA filed the 2005 Forms 941 in February of 2006 and failed to pay the 2005 payroll taxes. The IRS determined, and the Court agreed, that the ultimate responsibility for the payment of the payroll taxes was the owner of the eye center. Therefore, there was not a reasonable cause to abate the penalties related to the late payment of the payroll taxes and the late filing of Forms 941.
While this case involves a for profit entity, the rules are the same for nonprofit organizations. Organizations should take seriously all responsibilities surrounding payroll. The ultimate responsibility for the payment of the payroll taxes is often attributed to the board of directors of the nonprofit or the officers of the nonprofit. This is true even if the organization has hired someone to handle all of the payroll functions of the organization and even if the organization uses an outside payroll service to process its payroll.
Not only are the related penalties a concern for an organization, but anyone deemed to be a "responsible person" can be held personally liable for unpaid payroll taxes. Therefore, it is in everyone's best interest to institute procedures to confirm the organization's compliance in regards to its payroll tax deposits and its payroll tax filings.
While this case involves a for profit entity, the rules are the same for nonprofit organizations. Organizations should take seriously all responsibilities surrounding payroll. The ultimate responsibility for the payment of the payroll taxes is often attributed to the board of directors of the nonprofit or the officers of the nonprofit. This is true even if the organization has hired someone to handle all of the payroll functions of the organization and even if the organization uses an outside payroll service to process its payroll.
Not only are the related penalties a concern for an organization, but anyone deemed to be a "responsible person" can be held personally liable for unpaid payroll taxes. Therefore, it is in everyone's best interest to institute procedures to confirm the organization's compliance in regards to its payroll tax deposits and its payroll tax filings.
Form 1099-Misc Reporting Nightmare
To contact us Click HERE
Perhaps you have heard the ugly rumors of the increased mandatory reporting for payments to vendors. Unfortunately, it isn't all rumor, but it is truth. In an effort to make the health care bill "deficit neutral", the legislation included a provision that would require Forms 1099-Misc to be filed for virtually all vendor payments, including those to corporations, that exceed $600 for the year. It seems that this provision alone is anticipated to raise $17 billion of the nearly $1 trillion needed for the health care legislation. While this looked good on paper, no one attempted to consider the logistics or the cost to comply with such legislation. For example, what would be the cost to businesses to comply or better yet, could the IRS handle all of those Forms 1099-Misc. It is estimated that the provision will increase the filings by five fold. The provision is set to become effective in 2012. However, help may be on the horizon. It seems that both Democrats and Republicans are realizing this is not the best idea and something may have to be done. Rep. Dave Camp of Michigan has introduced H.R. 5893 to repeal this provision citing information that the compliance with the provision will cost American businesses more than the amount of revenue generated for the government. The cost is anticipated to be extremely burdensome to small business and small organizations. This translates into money diverted to regulatory compliance that a nonprofit should be able to use to fund its programs. At this point, we are watching Congress to see what will happen. We don't have to begin gearing up for the reporting just at this time, and have some time for Congress to save the day. Stay tuned to the final outcome on this issue and more guidance on when, or if, you will need to send a Form W-9 to Office Depot to gain their address and employer identification number.
Update of the Driscolls' Two Houses
To contact us Click HERE
On February 8th, the 11th Circuit Court of Appeals slammed the door on the ability to use housing allowances for multiple homes. In a short but definitive ruling, the court states, in essence, that "a" means "one" and that it should not be construed to be able to mean "more than one". The court relies on the consistent use of the term "home" as holding a singular connotation within the statute. Therefore, if a minister was planning on utilizing his or her housing allowance for more than one "home", it is time to make the appropriate adjustments to the 2012 tax estimates.
7 Temmuz 2012 Cumartesi
What's New for 2010
To contact us Click HERE
This article contains information that effects your 2010 tax return.
Due date of return.
File individual taxpayers the due date for 2010 tax return is April 18, 2011 instead of April 15, 2011.
Standard Deduction and Personal Exemption
Standard Deduction
Single ... $5,700 (add $1,400 for Blind/Elderly)
Married Filing Jointly ... $11,400 (add $1,100 for Blind/Elderly)
Head of Household ... $8,350 (add $1,400 for Blind/Elderly)
Married Filing Separately ... $5,700 (add $1,100 for Blind/Elderly)
Dependent ... Greater of $950 or sum of $300 and individual's earned income
Personal Exemption
$3,650
Standard mileage rates.
For 2010, the standard mileage rate for the cost of operating your car for business use is 50 cents a mile, for medical reasons is 16½ cents a mile for the cost of operating your car for determining moving expenses is 16½ cents a mile.
Limits on personal exemptions and overall itemized deductions ended.
For 2010, you do not lose part of your deduction for personal exemptions and itemized deductions, regardless of the amount of your adjusted gross income (AGI).
Temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children
The American Recovery and Reinvestment Act (ARRA) provides a temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children. The maximum EITC for this new category is $5,657. These changes apply to 2009 and 2010 tax returns.
The EITC credit begins to phase out at $21,420 for married taxpayers filing a joint return with children and completely phases out at $40,463 for one child, $45,295 for two children and $48,279 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $12,470 and completely phases out at $18,440.
Additional Child Tax Credit
Under ARRA more families will be eligible for the additional child tax credit, which is a refundable credit.ARRA reduces the minimum earned income amount used to calculate the additional child tax credit to $3,000. Before ARRA, the minimum earned income amount was set to rise to $12,550. This change applies to tax years beginning in 2009 and 2010.
American Opportunity Credit for college education expenses
Under ARRA, the American Opportunity Credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. The credit can be claimed for four post-secondary education years instead of two, and it also adds required course materials to the list of qualifying expenses. The maximum annual credit is $2,500 per student. Use Form 8863 Education Credit.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.
If you choose to file as married filing separately you cannot take education credits, the deduction for student loan interest, or the tuition and fees deduction.
Self-employed health insurance deduction.
Effective March 30, 2010, if you were self-employed and paid for health insurance, you may be able to include in your self-employed health insurance deduction any premiums you paid to cover your child who was under age 27 at the end of 2010, even if the child was not your dependent.
First-time homebuyer credit.
You generally cannot claim the credit for a home you bought after April 30, 2010. However, you may be able to claim the credit if you entered into a written binding contract before May 1, 2010, to buy the home before July 1, 2010, and actually bought the home before October 1, 2010. Also, certain members of the Armed Forces and certain other taxpayers have additional time to buy a home and take the credit.
Homeowner's Energy Credit & Residential Energy Efficient Property Credit
Homeowner's energy credit is available for 2009 and 2010. The credit is thirty percent with a maximum of $1,500 for windows, doors, furnaces, water boilers, skylights, pellet stoves and insulation. Any credits received in previous years, do not effect this maximum credit amount.
For residential energy efficient property the credit is 30% of your costs of qualified property. Qualified properties include solar electric, solar water heating, fuel cell, small wind energy, and geothermal heat pump.
To take the credit, complete Form 5695 Residential Energy Credits. Enter the credit on line 52 of Form 1040 and check box c.
Making Work Pay Credit
Taxpayers with earned income will get Making Work Pay credit. It is 6.2% of your earned income with a maximum of $400 ($800 if married filing jointly). You must file schedule M (Form 1040 or 1040A) to claim the credit. Include the credit on line 63 of Form 1040 or line 40 of Form 1040A. If you are filing Form 1040-EZ, include the credit on line 8 and do not file schedule M. Those with AGI of more than $95,000 ($190,000 if married filing jointly), nonresidents and dependents do not get this credit.
Roth IRAs
Beginning in 2010, you can make a qualified rollover contribution to a Roth IRA regardless of the amount of your modified AGI.Also, half of any income that results from a rollover or conversion to a Roth IRA from another retirement plan in 2010 is included in income in 2011, and the other half in 2012, unless you elect to include all of it in 2010.
More Articles
Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. 2009 Filing Requirements
2. 2008 Filing Requirements
3. Filing Requirement for a Dependent
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax Return
1. Working in Two or More States
Income Tax
1. My Tax Refund?
Complete List of Articles
OctroTalk for Winodws Phone 7. (Free App). Octrotalk version 1.0.3 is a Google Talk client for Windows Phone 7, which allows you to stay logged in to the Google Talk service, and receive incoming messages via push (in case app is not running in the foreground). OctroTalk supports both tile and push notifications. Download http://www.windowsphone.com/en-US/apps/42f332f9-4d13-42d2-8214-e290bbd54cde
Due date of return.
File individual taxpayers the due date for 2010 tax return is April 18, 2011 instead of April 15, 2011.
Standard Deduction and Personal Exemption
Standard Deduction
Single ... $5,700 (add $1,400 for Blind/Elderly)
Married Filing Jointly ... $11,400 (add $1,100 for Blind/Elderly)
Head of Household ... $8,350 (add $1,400 for Blind/Elderly)
Married Filing Separately ... $5,700 (add $1,100 for Blind/Elderly)
Dependent ... Greater of $950 or sum of $300 and individual's earned income
Personal Exemption
$3,650
Standard mileage rates.
For 2010, the standard mileage rate for the cost of operating your car for business use is 50 cents a mile, for medical reasons is 16½ cents a mile for the cost of operating your car for determining moving expenses is 16½ cents a mile.
Limits on personal exemptions and overall itemized deductions ended.
For 2010, you do not lose part of your deduction for personal exemptions and itemized deductions, regardless of the amount of your adjusted gross income (AGI).
Temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children
The American Recovery and Reinvestment Act (ARRA) provides a temporary increase in the earned income tax credit (EITC) for taxpayers with three or more qualifying children. The maximum EITC for this new category is $5,657. These changes apply to 2009 and 2010 tax returns.
The EITC credit begins to phase out at $21,420 for married taxpayers filing a joint return with children and completely phases out at $40,463 for one child, $45,295 for two children and $48,279 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $12,470 and completely phases out at $18,440.
Additional Child Tax Credit
Under ARRA more families will be eligible for the additional child tax credit, which is a refundable credit.ARRA reduces the minimum earned income amount used to calculate the additional child tax credit to $3,000. Before ARRA, the minimum earned income amount was set to rise to $12,550. This change applies to tax years beginning in 2009 and 2010.
American Opportunity Credit for college education expenses
Under ARRA, the American Opportunity Credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. The credit can be claimed for four post-secondary education years instead of two, and it also adds required course materials to the list of qualifying expenses. The maximum annual credit is $2,500 per student. Use Form 8863 Education Credit.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.
If you choose to file as married filing separately you cannot take education credits, the deduction for student loan interest, or the tuition and fees deduction.
Self-employed health insurance deduction.
Effective March 30, 2010, if you were self-employed and paid for health insurance, you may be able to include in your self-employed health insurance deduction any premiums you paid to cover your child who was under age 27 at the end of 2010, even if the child was not your dependent.
First-time homebuyer credit.
You generally cannot claim the credit for a home you bought after April 30, 2010. However, you may be able to claim the credit if you entered into a written binding contract before May 1, 2010, to buy the home before July 1, 2010, and actually bought the home before October 1, 2010. Also, certain members of the Armed Forces and certain other taxpayers have additional time to buy a home and take the credit.
Homeowner's Energy Credit & Residential Energy Efficient Property Credit
Homeowner's energy credit is available for 2009 and 2010. The credit is thirty percent with a maximum of $1,500 for windows, doors, furnaces, water boilers, skylights, pellet stoves and insulation. Any credits received in previous years, do not effect this maximum credit amount.
For residential energy efficient property the credit is 30% of your costs of qualified property. Qualified properties include solar electric, solar water heating, fuel cell, small wind energy, and geothermal heat pump.
To take the credit, complete Form 5695 Residential Energy Credits. Enter the credit on line 52 of Form 1040 and check box c.
Making Work Pay Credit
Taxpayers with earned income will get Making Work Pay credit. It is 6.2% of your earned income with a maximum of $400 ($800 if married filing jointly). You must file schedule M (Form 1040 or 1040A) to claim the credit. Include the credit on line 63 of Form 1040 or line 40 of Form 1040A. If you are filing Form 1040-EZ, include the credit on line 8 and do not file schedule M. Those with AGI of more than $95,000 ($190,000 if married filing jointly), nonresidents and dependents do not get this credit.
Roth IRAs
Beginning in 2010, you can make a qualified rollover contribution to a Roth IRA regardless of the amount of your modified AGI.Also, half of any income that results from a rollover or conversion to a Roth IRA from another retirement plan in 2010 is included in income in 2011, and the other half in 2012, unless you elect to include all of it in 2010.
More Articles
Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. 2009 Filing Requirements
2. 2008 Filing Requirements
3. Filing Requirement for a Dependent
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax Return
1. Working in Two or More States
Income Tax
1. My Tax Refund?
Complete List of Articles
OctroTalk for Winodws Phone 7. (Free App). Octrotalk version 1.0.3 is a Google Talk client for Windows Phone 7, which allows you to stay logged in to the Google Talk service, and receive incoming messages via push (in case app is not running in the foreground). OctroTalk supports both tile and push notifications. Download http://www.windowsphone.com/en-US/apps/42f332f9-4d13-42d2-8214-e290bbd54cde
Silence and Fear
To contact us Click HERE
When I was 19, I dated a man who turned out to have serious mental problems and was prone to violence. I was able to run away. He hounded me for a few months, but finally he stopped. It took many years for me to feel safe again, to not jump every time I saw a man who looked like him. I stayed underground for a long time. Then, 20 years later, I started a book publishing company and set up a blog and website.
And that's how he found me again.
At first, I wanted to shut down my blog, delete the Medusa's Muse Facebook page, and strike my name from everything I'd ever written or published. I was petrified he'd show up on my front door one day after piecing together information he'd gathered from the net. And the idea that he was now reading about me and my family from four years of blog posts made me sick.
Do I have to destroy everything I've built just to feel safe again?
He wasn't threatening me; he said he just wanted to get in touch.
Why? What can possibly be gained by talking to me?
Staying silent seemed like the best option, and that included staying silent as an artist.
How many of us have been silenced by fear of the past? Or afraid of what the power of our words could bring? How many writers have been gagged because others fear their words? For women, silence is particularly powerful. We are taught to stay quiet, because girls who speak their minds get punished.
He tried to contact me again, but I have decided not to shut down my press, or my blog, or website, or Facebook page. I will not change my name. I will not become quietly anonymous. I am no longer that terrified 19 year old girl hiding in the bathroom because she thinks her boyfriend is going to kill her, staying silent because he said if I made a sound he'd hit me. I am a grown woman with a voice and a vision and yes I'm still afraid. I'm afraid of him. But I won't allow that fear to silence me.
Not anymore.
And that's how he found me again.
At first, I wanted to shut down my blog, delete the Medusa's Muse Facebook page, and strike my name from everything I'd ever written or published. I was petrified he'd show up on my front door one day after piecing together information he'd gathered from the net. And the idea that he was now reading about me and my family from four years of blog posts made me sick.
Do I have to destroy everything I've built just to feel safe again?
He wasn't threatening me; he said he just wanted to get in touch.
Why? What can possibly be gained by talking to me?
Staying silent seemed like the best option, and that included staying silent as an artist.
 |
| image from http://www.clubsilence.alt7.com/ |
How many of us have been silenced by fear of the past? Or afraid of what the power of our words could bring? How many writers have been gagged because others fear their words? For women, silence is particularly powerful. We are taught to stay quiet, because girls who speak their minds get punished.
He tried to contact me again, but I have decided not to shut down my press, or my blog, or website, or Facebook page. I will not change my name. I will not become quietly anonymous. I am no longer that terrified 19 year old girl hiding in the bathroom because she thinks her boyfriend is going to kill her, staying silent because he said if I made a sound he'd hit me. I am a grown woman with a voice and a vision and yes I'm still afraid. I'm afraid of him. But I won't allow that fear to silence me.
Not anymore.
Sabotage
To contact us Click HERE
How many of you feel that if you're not earning money with your writing, then you're not really a writer? Deep down, do you feel doubt in your abilities as an artist if no one pays you for what you create? Does price denote value?
I do. That's why I dabble at writing. I write "when I have time." When all the bills have been paid and phone calls returned and emails sent, when the house is clean, dishes done, laundry folded and put away. When the plants have been watered and my desk cleaned off and all the grocery shopping done. Then, and only then, am I allowed to write.
And this attitude bleeds into Medusa's Muse too. I edit manuscripts because I owe that to my authors; I do it for them. But everything else, the promotion of my press, updating the website, marketing books, lining up teaching gigs, record keeping and networking... all of those things that help my press thrive get put on the list called "when I have time."
This is called sabotage. I am sabotaging myself by not dedicating the same focus and energy to my press and my writing that I gave to grad school. It was easy to give focus to grad school, because that would eventually lead to a job and a paycheck. A so called real job. My press is a job, but it doesn't make much money, therefore it doesn't feed my family. The press feeds itself. I can't justify devoting time to it when it doesn't sustain me economically.
Which is bullshit, because my press sustains me in every other way but economics. It feeds my soul, my spirit, my artistic needs and creativity. Writing feeds me in even deeper ways. Why does economics always take priority?
Yes, we have to eat and keep a roof over our head. Making money is very important, especially if you have children. We live in this world which requires sacrifice sometimes to survive. I'm not knocking the importance of work.
But we must not let that importance destroy the other things that are important, especially our art.
And if you find yourself saying things like, "I don't have time to write" or "The grocery shopping is way more important right now" then it's time to take a good long look at your priorities. Are you saying this because it's true? Or are you finding an excuse to quit, and in so doing sabotage yourself.
Sabotage. The power to destroy your art before you've devoted yourself to it.
I know I'm just as guilty as anyone of sabotage, and I'm trying hard to stop. My press is important, not just to my authors, but for the joy it brings me. So why do I just dabble at publishing rather than treat it like the job it is?
I don't know, other than I must believe on some deep level that I don't deserve to be a successful publisher and writer.
Is that how you feel?
I do. That's why I dabble at writing. I write "when I have time." When all the bills have been paid and phone calls returned and emails sent, when the house is clean, dishes done, laundry folded and put away. When the plants have been watered and my desk cleaned off and all the grocery shopping done. Then, and only then, am I allowed to write.
And this attitude bleeds into Medusa's Muse too. I edit manuscripts because I owe that to my authors; I do it for them. But everything else, the promotion of my press, updating the website, marketing books, lining up teaching gigs, record keeping and networking... all of those things that help my press thrive get put on the list called "when I have time."
This is called sabotage. I am sabotaging myself by not dedicating the same focus and energy to my press and my writing that I gave to grad school. It was easy to give focus to grad school, because that would eventually lead to a job and a paycheck. A so called real job. My press is a job, but it doesn't make much money, therefore it doesn't feed my family. The press feeds itself. I can't justify devoting time to it when it doesn't sustain me economically.
Which is bullshit, because my press sustains me in every other way but economics. It feeds my soul, my spirit, my artistic needs and creativity. Writing feeds me in even deeper ways. Why does economics always take priority?
Yes, we have to eat and keep a roof over our head. Making money is very important, especially if you have children. We live in this world which requires sacrifice sometimes to survive. I'm not knocking the importance of work.
But we must not let that importance destroy the other things that are important, especially our art.
And if you find yourself saying things like, "I don't have time to write" or "The grocery shopping is way more important right now" then it's time to take a good long look at your priorities. Are you saying this because it's true? Or are you finding an excuse to quit, and in so doing sabotage yourself.
Sabotage. The power to destroy your art before you've devoted yourself to it.
I know I'm just as guilty as anyone of sabotage, and I'm trying hard to stop. My press is important, not just to my authors, but for the joy it brings me. So why do I just dabble at publishing rather than treat it like the job it is?
I don't know, other than I must believe on some deep level that I don't deserve to be a successful publisher and writer.
Is that how you feel?
Enough with the Insecurity
To contact us Click HERE
"Have you read your blog lately?" my Muse asks while storming into my room with a stack of books in her arms.
"Yeah. I wrote it didn't I?"
"Then you know how pathetic you sound lately."
"Pathetic?"
"Yes. Pathetic." She paces the room still holding the tower of uneven paperbacks. "Blah, blah, blah... I'm so insecure... I don't have any confidence... I'm so afraid... pathetic!"
"What are you talking about? I'm trying to help people."
"Help people? If helping people is showing what a complete wimp you are then you're doing an awesome job. Here! This is for helping people." She tosses the books at me.
Flinging out my arms to protect my head, I catch one of the flapping books as it heads for my eyes. Several land in my lap and the rest bounce onto the floor.
"Watch it!" I shout. "What the hell are you doing?"
She puts her hands on her hips and in a mocking tone says, "Helping you."
I look at the book in my hand. How to find meaning in the second half of life. "What's this?"
"It's a book to help you stop being so annoying."
Looking down at my lap I read The Seven Habits of Highly Effective People and Co-Dependent No More.
"Why are you throwing self-help books at me?"
"Because nothing else seems to be working. You're still the same insecure, terrified, wimpy little writer and editor you always were. Only now you're too old to blame it on youth."
"I am not."
"Yes you are."
"Not."
"Yes!"
"You're just mean!"
"God! You can't even argue like an adult!" My muse kicks Going to pieces without falling apart so hard the front cover rips.
"You know I grew up in a crazy household. It's taken me a very long time to get over it."
"But that's the problem, you still haven't. You're still living like that little girl, and at your age, it's boring."
"Will you please stop making cracks about my age."
"Not until you start acting your age. Then I might."
I stand and let the few books in my lap fall to the floor. "I'm sorry."
"Stop saying you're sorry."
"Okay, I'm... you're... right."
My muse crosses her arms. "I am?"
"Yes, you're right. I have been too focused on my own insecurity, and yes I have been writing about it too much. I'm just nervous, that's all. But I'm working on it."
"Work on it harder."
"Okay, but you know you don't help when you throw self-help books at me."
"Be happy they weren't encyclopedias."
We stare at each other, our eyes not quite meeting for fear I might turn to stone. Her snakes stick out their tongues at me.
My muse sighs. "You really have no idea how talented your are, do you?"
I shrug. "I guess not."
"Well figure it out." She turns her back on me. "And stop wasting my time."
I look down at the floor and read, The places that scare you.
"Maybe if you didn't yell at me so much I wouldn't be so insecure."
She turns to face me again. "Don't try to blame this on me."
"You aren't exactly the nicest muse on the planet, you know."
"The niceness of muses is overrated. We're all bitches. And besides, do you want to be coddled or inspired?"
"Inspired, of course."
"Then pick up these books, read a few, and get back to work. Enough with the insecurity for frell's sake!"
I snap my fingers. "Just like that? You know it isn't that easy..."
"Yes it is. Stop writing about it, dwelling on it, thinking about it, and stewing in it. When you feel insecure push it aside, take a deep breath, and keep working. Simple."
I can't think of any way to respond, because the simplicity of her words is so... simple. But is it really that easy? Just stop thinking about insecurity and it will go away?
She reads my mind. "Yes, it really is that simple. If you stop feeding your fears, they die. God, I didn't have to read a single fucking self-help book to know that. Humans overcomplicate everything."
I shrug. "Okay then, I'll give it a try."
"Good." She walks out of my room, yelling, "And throw out those books, too."
"Yeah. I wrote it didn't I?"
"Then you know how pathetic you sound lately."
"Pathetic?"
"Yes. Pathetic." She paces the room still holding the tower of uneven paperbacks. "Blah, blah, blah... I'm so insecure... I don't have any confidence... I'm so afraid... pathetic!"
"What are you talking about? I'm trying to help people."
"Help people? If helping people is showing what a complete wimp you are then you're doing an awesome job. Here! This is for helping people." She tosses the books at me.
Flinging out my arms to protect my head, I catch one of the flapping books as it heads for my eyes. Several land in my lap and the rest bounce onto the floor.
"Watch it!" I shout. "What the hell are you doing?"
She puts her hands on her hips and in a mocking tone says, "Helping you."
I look at the book in my hand. How to find meaning in the second half of life. "What's this?"
"It's a book to help you stop being so annoying."
Looking down at my lap I read The Seven Habits of Highly Effective People and Co-Dependent No More.
"Why are you throwing self-help books at me?"
"Because nothing else seems to be working. You're still the same insecure, terrified, wimpy little writer and editor you always were. Only now you're too old to blame it on youth."
"I am not."
"Yes you are."
"Not."
"Yes!"
"You're just mean!"
"God! You can't even argue like an adult!" My muse kicks Going to pieces without falling apart so hard the front cover rips.
"You know I grew up in a crazy household. It's taken me a very long time to get over it."
"But that's the problem, you still haven't. You're still living like that little girl, and at your age, it's boring."
"Will you please stop making cracks about my age."
"Not until you start acting your age. Then I might."
I stand and let the few books in my lap fall to the floor. "I'm sorry."
"Stop saying you're sorry."
"Okay, I'm... you're... right."
My muse crosses her arms. "I am?"
"Yes, you're right. I have been too focused on my own insecurity, and yes I have been writing about it too much. I'm just nervous, that's all. But I'm working on it."
"Work on it harder."
"Okay, but you know you don't help when you throw self-help books at me."
"Be happy they weren't encyclopedias."
We stare at each other, our eyes not quite meeting for fear I might turn to stone. Her snakes stick out their tongues at me.
My muse sighs. "You really have no idea how talented your are, do you?"
I shrug. "I guess not."
"Well figure it out." She turns her back on me. "And stop wasting my time."
I look down at the floor and read, The places that scare you.
"Maybe if you didn't yell at me so much I wouldn't be so insecure."
She turns to face me again. "Don't try to blame this on me."
"You aren't exactly the nicest muse on the planet, you know."
"The niceness of muses is overrated. We're all bitches. And besides, do you want to be coddled or inspired?"
"Inspired, of course."
"Then pick up these books, read a few, and get back to work. Enough with the insecurity for frell's sake!"
I snap my fingers. "Just like that? You know it isn't that easy..."
"Yes it is. Stop writing about it, dwelling on it, thinking about it, and stewing in it. When you feel insecure push it aside, take a deep breath, and keep working. Simple."
I can't think of any way to respond, because the simplicity of her words is so... simple. But is it really that easy? Just stop thinking about insecurity and it will go away?
She reads my mind. "Yes, it really is that simple. If you stop feeding your fears, they die. God, I didn't have to read a single fucking self-help book to know that. Humans overcomplicate everything."
I shrug. "Okay then, I'll give it a try."
"Good." She walks out of my room, yelling, "And throw out those books, too."
It's Tax Time. Do you know where your receipts are?
To contact us Click HERE
The H and R Block office has reopened and there are signs all over town announcing deals on tax preparation. That can mean only one thing: it's tax time. The wonderful time of year when we all whimper at the pile of paperwork and forms demanding our immediate attention, realizing we've lost most of our receipts, and we have no idea if we got all of our 1099's and W2's from everyone we worked for.
This is also an excellent time of year to crack open that expensive bottle of scotch Uncle Jo gave us for Christmas.
When I was writing What You Need to Know to Be a Pro, I decided not to include a chapter about taxes because the tax code changes all the time. There is plenty of info throughout the book about keeping track of expenses in preparation of tax season, but I skipped specific info about filing. Instead, I research taxes every year and post my findings on this blog.
First, I found this video on ehow. It's more about keeping track of deductions rather than forms, but she explains receipts very well. The presenter in the video has a whole series about Freelance Writing.
Taxes & Being a Freelance Writer —powered by eHow.com
And here are a few articles I found this morning. Click the links to read the full article.
Writing.org Taxes for Freelancers
Did you earn your first income from freelancing last year? If so, you're in for a new adventure: calculating your income and Social Security taxes as a self-employed person.
The basic principle of paying freelance taxes is simple: You add up your income, deduct your expenses, and transfer the net profit or loss to Line 12, "Business income (or loss)," on Form 1040.
Unfortunately, what's simple in principle can be complicated in practice. Here are a few guidelines to help you get started:
Tax Issues for Freelance Writers
Here are some tips and strategies for thinking about your taxes. There are special circumstances that apply to freelance writers and other independent professionals, so I will highlight what you need to know to prepare your taxes.
Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, freelancers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees.
I really like this next article, written by a freelance writer and business expert.
Blue Inkwell Taxes for the Freelance Writer
Setting up shop as a freelance is easy enough. Unfortunately, most novices don’t think about the tax implications of what they’re doing until their first tax season rolls around. Then the questions pour out.
What do I have to claim?How do I deal with 1099s?What classifies as a deduction?Am I supposed to pay quarterly taxes?
I'll keep researching the tax code for 2011 and post what I find here. If you have any helpful articles, post the link in comments.
And good luck with the receipt hunt. Check your car. I found lots of Medusa receipts in mine.
This is also an excellent time of year to crack open that expensive bottle of scotch Uncle Jo gave us for Christmas.
When I was writing What You Need to Know to Be a Pro, I decided not to include a chapter about taxes because the tax code changes all the time. There is plenty of info throughout the book about keeping track of expenses in preparation of tax season, but I skipped specific info about filing. Instead, I research taxes every year and post my findings on this blog.
First, I found this video on ehow. It's more about keeping track of deductions rather than forms, but she explains receipts very well. The presenter in the video has a whole series about Freelance Writing.
Taxes & Being a Freelance Writer —powered by eHow.com
And here are a few articles I found this morning. Click the links to read the full article.
Writing.org Taxes for Freelancers
Did you earn your first income from freelancing last year? If so, you're in for a new adventure: calculating your income and Social Security taxes as a self-employed person.
The basic principle of paying freelance taxes is simple: You add up your income, deduct your expenses, and transfer the net profit or loss to Line 12, "Business income (or loss)," on Form 1040.
Unfortunately, what's simple in principle can be complicated in practice. Here are a few guidelines to help you get started:
Tax Issues for Freelance Writers
Here are some tips and strategies for thinking about your taxes. There are special circumstances that apply to freelance writers and other independent professionals, so I will highlight what you need to know to prepare your taxes.
Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, freelancers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees.
I really like this next article, written by a freelance writer and business expert.
Blue Inkwell Taxes for the Freelance Writer
Setting up shop as a freelance is easy enough. Unfortunately, most novices don’t think about the tax implications of what they’re doing until their first tax season rolls around. Then the questions pour out.
What do I have to claim?How do I deal with 1099s?What classifies as a deduction?Am I supposed to pay quarterly taxes?
I'll keep researching the tax code for 2011 and post what I find here. If you have any helpful articles, post the link in comments.
And good luck with the receipt hunt. Check your car. I found lots of Medusa receipts in mine.
5 Temmuz 2012 Perşembe
Solstice: the holiday that celebrates nerdiness
To contact us Click HERE
Solstice is a big event in my family. We decorate the Solstice tree, string the house with as many holiday lights as we can before blowing the fuses, and open most of our presents. It's the day we celebrate our family, just the three of us. There are no outside obligations, like mom wondering why we didn't invite her over, or long drives in Christmas traffic. We often have a few friends over to share a good meal and some good bottles of wine. It's a relaxed, carefree, do whatever we want, kind of holiday.
Plus, Solstice is really frickin cool!
Solstice is a celebration of the return of sunlight. The Sun has traveled as far to the southern horizon as it can get in our hemisphere and it will now begin to climb back toward the north, bringing longer days with more light. Yes, I know, the Sun isn't actually going anywhere, the Earth is doing all of the traveling, and it's the angle of the Earth in relation to the Sun that changes the Sun's position. Which is exactly why Solstice is so cool. The Earth has traveled to this specific position on it's journey around the Sun, marking the exact location where the days will begin to get longer for us. This is as dark as it's going to get.
Ancient peoples marked this occasion and celebrated with bonfires and music, which is where we get Christmas lights and Christmas carols (maybe I made that last one up). We can't light a bonfire in our yard anymore or the cops get upset, so we wind hundreds of colorful lightbulbs all over our homes to chase away the darkness, just as our ancestors did with their bonfires and candles.
I'm not a pagan (technically I guess I am because I'm not Christian), so my family doesn't attend the Pagan celebrations in our community. I guess you'd call me a Scientific Pagan; my holidays focus on astronomy and nature. I drink champagne when NASA sends a new probe into space, or when scientists discover something new about the universe. I was absolutely giddy when they discovered a new planet in the "Goldie Locks zone." And I cried when the last Space Shuttle flight landed. No more launches.
Solstice and Equinox are the holidays that let me fly my nerd flag, when I can debate with other nerds the exact time of day winter begins. The Winter Solstice happens at the exact same moment all over the world, and is officially clocked in Universal Time at 5:30 pm on December 22nd. But what is the exact time in our own timezone? Here is an article from Earthsky that will help you determine the exact clock-time for your timezone. For Pacific Daylight Time (my own timezone) I need to subtract 7 hours from the Universal Time (5:30 pm on the 22nd - 7 hours = 11:30 pm on the 21st). Did I do that right?
I'm a science nerd, but unfortunately not a math nerd.
The universe is more beautiful and mysterious than you can possibly imagine, filled with wonders and constantly evolving. As soon as you think you've got it figured out, a new discovery will shake your hypothesis into nonsense. And the Earth, our planet, our home, is this beautiful vessel filled with just as much beauty and wonder as the universe it was created from. We should honor that wonder. Recognize the impossible odds that allow us to be here.
This is why I celebrate Solstice. This is why I proudly call myself a nerd.
Solstice is a big event in my family. We decorate the Solstice tree, string the house with as many holiday lights as we can before blowing the fuses, and open most of our presents. It's the day we celebrate our family, just the three of us. There are no outside obligations, like mom wondering why we didn't invite her over, or long drives in Christmas traffic. We often have a few friends over to share a good meal and some good bottles of wine. It's a relaxed, carefree, do whatever we want, kind of holiday.
Plus, Solstice is really frickin cool!
Solstice is a celebration of the return of sunlight. The Sun has traveled as far to the southern horizon as it can get in our hemisphere and it will now begin to climb back toward the north, bringing longer days with more light. Yes, I know, the Sun isn't actually going anywhere, the Earth is doing all of the traveling, and it's the angle of the Earth in relation to the Sun that changes the Sun's position. Which is exactly why Solstice is so cool. The Earth has traveled to this specific position on it's journey around the Sun, marking the exact location where the days will begin to get longer for us. This is as dark as it's going to get.
Ancient peoples marked this occasion and celebrated with bonfires and music, which is where we get Christmas lights and Christmas carols (maybe I made that last one up). We can't light a bonfire in our yard anymore or the cops get upset, so we wind hundreds of colorful lightbulbs all over our homes to chase away the darkness, just as our ancestors did with their bonfires and candles.
I'm not a pagan (technically I guess I am because I'm not Christian), so my family doesn't attend the Pagan celebrations in our community. I guess you'd call me a Scientific Pagan; my holidays focus on astronomy and nature. I drink champagne when NASA sends a new probe into space, or when scientists discover something new about the universe. I was absolutely giddy when they discovered a new planet in the "Goldie Locks zone." And I cried when the last Space Shuttle flight landed. No more launches.
Solstice and Equinox are the holidays that let me fly my nerd flag, when I can debate with other nerds the exact time of day winter begins. The Winter Solstice happens at the exact same moment all over the world, and is officially clocked in Universal Time at 5:30 pm on December 22nd. But what is the exact time in our own timezone? Here is an article from Earthsky that will help you determine the exact clock-time for your timezone. For Pacific Daylight Time (my own timezone) I need to subtract 7 hours from the Universal Time (5:30 pm on the 22nd - 7 hours = 11:30 pm on the 21st). Did I do that right?
I'm a science nerd, but unfortunately not a math nerd.
The universe is more beautiful and mysterious than you can possibly imagine, filled with wonders and constantly evolving. As soon as you think you've got it figured out, a new discovery will shake your hypothesis into nonsense. And the Earth, our planet, our home, is this beautiful vessel filled with just as much beauty and wonder as the universe it was created from. We should honor that wonder. Recognize the impossible odds that allow us to be here.
This is why I celebrate Solstice. This is why I proudly call myself a nerd.
The Constipated Muse
To contact us Click HERE
My hubby and I ran away from home for Christmas: no cell service, no internet, no family, no stress. Our daughter went to stay with her dad for the holiday, granting us four days of nothing to do but lounge. We spent three nights at a B and B in Westport. Drinking wine in the afternoon and then walking on the beach while our dog ran across the sand was the perfect vacation to wipe away the stress of this hectic year.
When I returned home from vacation, my muse was waiting for me.
"Feel better?" she asked when I walked into my room.
Setting my overstuffed canvas suitcase on the floor, I said, "Yes. Much better. You?"
"Fine. I'm fine."
I studied her pursed lips, her folded arms, the snakes twined severely on the back of her head. "You don't look fine."
"Of course I am. It was a nice break. I'm glad you had fun."
"What did you do?"
"Nothing. I decided to stay here and read."
"Really? I thought you were going up to Alaska to play in the snow."
"I changed my mind." She reached out and brushed lint from the back of my office chair.
"Are you sure you're alright?"
She nodded.
Shaking my head, I said, "Why don't I believe you?"
"I'm fine!" she snapped, taking a step away from me.
"Okay, you're fine. That's why you decided to stay home all alone and read books you've already memorized rather than go play in the snow with Alaskan wolves. And that's why you're holding your body so tight those snakes look like they might break in two if you sneeze."
She sighed. "I don't want to talk about it."
"Okay." I bent down and opened my suitcase.
"You wouldn't understand. It's a muse problem."
"Alright. We don't have to talk about it."
Pacing the room, she said, "It's painful and muses find it embarrassing, so we don't talk about it, especially not to our artists."
"If you say so." I pulled out a pile of mostly dirty clothes and threw them toward the hamper.
"I doubt you would even understand, but..." She stopped pacing and stared up at the ceiling. "Sometimes, we muses can get... backed up."
"Backed up?"
"Yes. Our energy can... get stuck."
I stood. "Stuck?"
"Yes. Stuck." Her lips pressed tightly as she stared at me, then she said, "It's very uncomfortable."
"Sounds like it. But what do you mean your energy gets stuck?"
"Sometimes the creative fires burn too hot and too much inspiration flows through me without an outlet. Since you're human, and busy..." She rolled her eyes."... you couldn't possibly handle the amount of creativity that needs release, and besides, you'd burn to a crisp, or at least your brain would."
"So it's like being horny?"
"No, not at all. After a while, too much repression leads to a slowing down of the inspirational flow, which causes the creative fire to back up. The fires build, but the outlet becomes blocked. This leads to actual physical pain for the muse."
"I see." She watched me closely as if judging if I was capable of grasping something so delicate and crucial to the muse experience. I took a deep breath and said, "It's more like being constipated."
Her eyes widened. "What?"
"Constipation. You know, when you really need to go but you can't, so all you feel is cramping and gas."
"I should have known that you'd imagine trapped creative energy feeling like the need to shit."
Suppressing a smile, I held out my hands to her. "I'm sorry. I'm not trying to belittle this, I'm just trying to understand what you're going through so I can help."
"You can't help. You can only make jokes."
"I'm not laughing."
"Yes you are. You think I can't see that smile you're hiding."
"What can I do to help."
"Do you really want to help?"
"Yes, I really do."
"For starters you can finish the kids book immediately so you can finish the play. Then you can start the next play. And after that I'll tell you about the other book idea I have. I have lots of ideas to pump new energy into Medusa's Muse, including a new website and e-books. " She paced the room again. "Your workshop is ready to go forward and I have lots of thoughts on how and where to present the material. Also, you seem really excited about writing for kids, so I have several more possible subjects. And "Miranda" is waiting for you to finish, but I'm not sure that's where your passion lies anymore. Don't forget Burying Mama. You should just send it out into the wild again and see what happens." She whirled around to face me, her eyes shining. "Plus those two short stories are simply stellar, but of course need polish."
I sat down, suddenly feeling tired. "No wonder you're constipated."
Stamping her foot, she yelled, "I am not constipated!"
"I know, I know... I'm sorry. You have too many ideas for one artist. It's a big problem. I'm sorry I can't get all of your ideas done."
She gracefully dropped to the floor and sat with her legs criss-crossed. After a moment of silence, she said, "It's not your fault. It's mine. I push too hard. I want too much. Everything in the world inspires me, but the whole world is too full. That's why I stayed here in your room reading books I've already read a thousand times. I don't need any more ideas." She held her stomach tightly. "Ouch."
You need a good laxative, I thought, but decided it wise to keep my mouth shut. "I'll try to finish the kids book this week, if that will help."
"Thank you." She smiled at me. "But no pressure. Like I said, this is my fault. The creative flow is out of balance because I'm out of balance. It's time for me to focus, and help you focus, until we're both in harmony with the work. It just takes time."
Time. That seems to be the biggest problem of all.
When I returned home from vacation, my muse was waiting for me.
"Feel better?" she asked when I walked into my room.
Setting my overstuffed canvas suitcase on the floor, I said, "Yes. Much better. You?"
"Fine. I'm fine."
I studied her pursed lips, her folded arms, the snakes twined severely on the back of her head. "You don't look fine."
"Of course I am. It was a nice break. I'm glad you had fun."
"What did you do?"
"Nothing. I decided to stay here and read."
"Really? I thought you were going up to Alaska to play in the snow."
"I changed my mind." She reached out and brushed lint from the back of my office chair.
"Are you sure you're alright?"
She nodded.
Shaking my head, I said, "Why don't I believe you?"
"I'm fine!" she snapped, taking a step away from me.
"Okay, you're fine. That's why you decided to stay home all alone and read books you've already memorized rather than go play in the snow with Alaskan wolves. And that's why you're holding your body so tight those snakes look like they might break in two if you sneeze."
She sighed. "I don't want to talk about it."
"Okay." I bent down and opened my suitcase.
"You wouldn't understand. It's a muse problem."
"Alright. We don't have to talk about it."
Pacing the room, she said, "It's painful and muses find it embarrassing, so we don't talk about it, especially not to our artists."
"If you say so." I pulled out a pile of mostly dirty clothes and threw them toward the hamper.
"I doubt you would even understand, but..." She stopped pacing and stared up at the ceiling. "Sometimes, we muses can get... backed up."
"Backed up?"
"Yes. Our energy can... get stuck."
I stood. "Stuck?"
"Yes. Stuck." Her lips pressed tightly as she stared at me, then she said, "It's very uncomfortable."
"Sounds like it. But what do you mean your energy gets stuck?"
"Sometimes the creative fires burn too hot and too much inspiration flows through me without an outlet. Since you're human, and busy..." She rolled her eyes."... you couldn't possibly handle the amount of creativity that needs release, and besides, you'd burn to a crisp, or at least your brain would."
"So it's like being horny?"
"No, not at all. After a while, too much repression leads to a slowing down of the inspirational flow, which causes the creative fire to back up. The fires build, but the outlet becomes blocked. This leads to actual physical pain for the muse."
"I see." She watched me closely as if judging if I was capable of grasping something so delicate and crucial to the muse experience. I took a deep breath and said, "It's more like being constipated."
Her eyes widened. "What?"
"Constipation. You know, when you really need to go but you can't, so all you feel is cramping and gas."
"I should have known that you'd imagine trapped creative energy feeling like the need to shit."
Suppressing a smile, I held out my hands to her. "I'm sorry. I'm not trying to belittle this, I'm just trying to understand what you're going through so I can help."
"You can't help. You can only make jokes."
"I'm not laughing."
"Yes you are. You think I can't see that smile you're hiding."
"What can I do to help."
"Do you really want to help?"
"Yes, I really do."
"For starters you can finish the kids book immediately so you can finish the play. Then you can start the next play. And after that I'll tell you about the other book idea I have. I have lots of ideas to pump new energy into Medusa's Muse, including a new website and e-books. " She paced the room again. "Your workshop is ready to go forward and I have lots of thoughts on how and where to present the material. Also, you seem really excited about writing for kids, so I have several more possible subjects. And "Miranda" is waiting for you to finish, but I'm not sure that's where your passion lies anymore. Don't forget Burying Mama. You should just send it out into the wild again and see what happens." She whirled around to face me, her eyes shining. "Plus those two short stories are simply stellar, but of course need polish."
I sat down, suddenly feeling tired. "No wonder you're constipated."
Stamping her foot, she yelled, "I am not constipated!"
"I know, I know... I'm sorry. You have too many ideas for one artist. It's a big problem. I'm sorry I can't get all of your ideas done."
She gracefully dropped to the floor and sat with her legs criss-crossed. After a moment of silence, she said, "It's not your fault. It's mine. I push too hard. I want too much. Everything in the world inspires me, but the whole world is too full. That's why I stayed here in your room reading books I've already read a thousand times. I don't need any more ideas." She held her stomach tightly. "Ouch."
You need a good laxative, I thought, but decided it wise to keep my mouth shut. "I'll try to finish the kids book this week, if that will help."
"Thank you." She smiled at me. "But no pressure. Like I said, this is my fault. The creative flow is out of balance because I'm out of balance. It's time for me to focus, and help you focus, until we're both in harmony with the work. It just takes time."
Time. That seems to be the biggest problem of all.
Time and Deadlines and Focus
To contact us Click HERE
Time is indeed the enemy. It speeds up then slows down, grows claws, whispers sweet nothings, makes promises, purrs you into sleep, then pulls the rug out from under you, laughing when you fall flat on your ass. No one has been able to control this wild animal; just when you think you've managed it, time learns a new trick and then runs away with the circus.
The only thing you can hope for is to somehow make friends with this beast, and accept the truth that you'll never really master it. Once you accept that, you can finally relax. So what if you didn't get your entire to-do list finished in one day? The list was probably too long anyway.
For the past three years, I've been on a deadline. School is nothing but deadlines: exams, papers, internships and classes. And you've got to get it all done in a set period of time, or you just keep paying more and more money.
I'm good with deadlines, but not so good at managing time.
I realized this as I was stressing out over getting all my lesson notes for my students caught up before the start of Winter break, while also finishing a book proposal, editing the new Medusa manuscript, and worrying that I hadn't read as many books as I said I would on Goodreads. My daughter was sick, my husband working all the time, the house a mess, and then I suddenly got the wild idea that I should clear out my entire house before the end of the year.
Self imposed deadlines to drive me frickin insane. I'm good at those.
I don't usually make New Year's resolutions, but this year I've decided to start. My goal for 2012 is to let go of the deadlines and make peace with time. There is never enough time in one day (or lifetime, I fear) to achieve everything I dream of. I'm one of those people who thrives on constant challenge. Maybe thrive isn't the right word. I compulsively hunt for the next challenge, even if it creates chaos and stress. This year, I told myself "No new challenges." I have plenty right here already.
The biggest one is Medusa's Muse. It has really struggled while I've been in school, but luckily the press is alive. How much longer will depend on how much time, energy and cash I can give it. We've signed a new book which I'm really excited about, so I need to get this publishing company back in top shape. And I need to breath more marketing energy into our previous books to see how much of a bump in sales we can achieve. I've asked a friend to join the team and help me with marketing; a new perspective will be great.
The other challenge I have, besides my new job of course, is my own writing. I have a new play to finish and another one I'd like to write. So I've made an early morning appointment with myself, just like if I was going to an exercise class. My daughter catches the bus at 7 AM. Once she's gone, and while still in my PJ's, I'll go into my room with my coffee and write for one hour. I've started doing that this week and it's amazing how much better I feel. I'm no longer wondering when the hell I'll get a chance to write; I know every morning from 7 to 8 I'll be blissfully working on my play. I know it's only an hour a day, but I'm amazed how productive I can be in that brief time.
Time is tricky, though. I'm like a little kid chasing dandelion fluff sometimes; I am constantly getting sidetracked. I get on the internet to check my mail, and two hours later I've learned about the whales in San Francisco Bay, a good recipe for persimmon pie, who the newest Disney Princess will be, how many of my Facebook friends like Tazo tea, what the next full moon is called, how to refinish an antique chair, and why it hasn't rained in California all winter. I checked one email message and then got distracted as soon as I clicked on a link my friend sent me.
I am no longer allowing myself to look at the internet before 8 AM.
Someday I'll learn time management. Maybe. I do pretty good actually, when I take into account everything I have to juggle on a daily basis. But the stress gets too high when I focus only on the to-do list and forget to enjoy my life. Forget to write. Forget to give my press the energy it needs to thrive.
Focus. That's what I need. So my New Year's resolution is to gain some focus and only give energy to the things already in my life. No more looking for shiny things over the next hill.
But wait... what's gleaming at the top of that tall mountain? I've never been there before. Maybe if I check out some maps and start hiking a little just to get close enough to see what that shiny thing might be...
The only thing you can hope for is to somehow make friends with this beast, and accept the truth that you'll never really master it. Once you accept that, you can finally relax. So what if you didn't get your entire to-do list finished in one day? The list was probably too long anyway.
For the past three years, I've been on a deadline. School is nothing but deadlines: exams, papers, internships and classes. And you've got to get it all done in a set period of time, or you just keep paying more and more money.
I'm good with deadlines, but not so good at managing time.
I realized this as I was stressing out over getting all my lesson notes for my students caught up before the start of Winter break, while also finishing a book proposal, editing the new Medusa manuscript, and worrying that I hadn't read as many books as I said I would on Goodreads. My daughter was sick, my husband working all the time, the house a mess, and then I suddenly got the wild idea that I should clear out my entire house before the end of the year.
Self imposed deadlines to drive me frickin insane. I'm good at those.
I don't usually make New Year's resolutions, but this year I've decided to start. My goal for 2012 is to let go of the deadlines and make peace with time. There is never enough time in one day (or lifetime, I fear) to achieve everything I dream of. I'm one of those people who thrives on constant challenge. Maybe thrive isn't the right word. I compulsively hunt for the next challenge, even if it creates chaos and stress. This year, I told myself "No new challenges." I have plenty right here already.
The biggest one is Medusa's Muse. It has really struggled while I've been in school, but luckily the press is alive. How much longer will depend on how much time, energy and cash I can give it. We've signed a new book which I'm really excited about, so I need to get this publishing company back in top shape. And I need to breath more marketing energy into our previous books to see how much of a bump in sales we can achieve. I've asked a friend to join the team and help me with marketing; a new perspective will be great.
The other challenge I have, besides my new job of course, is my own writing. I have a new play to finish and another one I'd like to write. So I've made an early morning appointment with myself, just like if I was going to an exercise class. My daughter catches the bus at 7 AM. Once she's gone, and while still in my PJ's, I'll go into my room with my coffee and write for one hour. I've started doing that this week and it's amazing how much better I feel. I'm no longer wondering when the hell I'll get a chance to write; I know every morning from 7 to 8 I'll be blissfully working on my play. I know it's only an hour a day, but I'm amazed how productive I can be in that brief time.
Time is tricky, though. I'm like a little kid chasing dandelion fluff sometimes; I am constantly getting sidetracked. I get on the internet to check my mail, and two hours later I've learned about the whales in San Francisco Bay, a good recipe for persimmon pie, who the newest Disney Princess will be, how many of my Facebook friends like Tazo tea, what the next full moon is called, how to refinish an antique chair, and why it hasn't rained in California all winter. I checked one email message and then got distracted as soon as I clicked on a link my friend sent me.
I am no longer allowing myself to look at the internet before 8 AM.
Someday I'll learn time management. Maybe. I do pretty good actually, when I take into account everything I have to juggle on a daily basis. But the stress gets too high when I focus only on the to-do list and forget to enjoy my life. Forget to write. Forget to give my press the energy it needs to thrive.
Focus. That's what I need. So my New Year's resolution is to gain some focus and only give energy to the things already in my life. No more looking for shiny things over the next hill.
But wait... what's gleaming at the top of that tall mountain? I've never been there before. Maybe if I check out some maps and start hiking a little just to get close enough to see what that shiny thing might be...
Fresh Blood
To contact us Click HERE
There's nothing like fresh blood to get the creative juices flowing again. It feels like Medusa's Muse is off life support, because my dear friend Ibis said, "Yes." Yes, she would love to help me run Medusa's Muse and market our books. Yes, because working for a micro-press sounds "interesting" and she'd like the creative challenge. Yes, because she's willing to work for no pay but lots of perks, like free business cards and twice a year dinners paid by the Muse.
Last weekend I took my publishing team out to dinner at a new Mexican/Yucatan restaurant. We all had something to celebrate: one birthday, a new book in the works, a new member of the team, and one dearly departed who we honored with a toast. The four of us chatted over a delicious meal and several glasses of wine. Jane, my diligent copy-editor, explained to Ibis about interacting with customers on line. Ibis, my new marketing assistant, nodded and asked questions while taking mental notes. I hope we didn't overwhelm her. Rick, my design director, tossed in a few ideas and mentioned how identifying the right book for the right group of people was key. I mostly sat and listened to the excitement at the table, throwing in my own ideas and thoughts, arguing with Jane over the term "framing the message," reassuring Ibis that I would help her and teach what needed to be done, and smiling at Rick, who really made the whole thing possible. Medusa may have been my dream and I may be the drive that holds the press together, but without his technical expertise, not a single book would have made it into the world.
Medusa's Muse feels like a brand new company, thanks to fresh blood and fresh energy. Thank you Ibis, for giving us your time and ideas. I think you're going to love book publishing.
The New and Updated Awesome Staff of Medusa's Muse, 2012
Terena Scott, Publisher/ Editor/Marketing Director
Jane Mackay, Co-Editor/Copy Editor
Rick Wismar, Book Designer and I.T Support
Ibis Klimicek de Villa, Marketing Assistant
Last weekend I took my publishing team out to dinner at a new Mexican/Yucatan restaurant. We all had something to celebrate: one birthday, a new book in the works, a new member of the team, and one dearly departed who we honored with a toast. The four of us chatted over a delicious meal and several glasses of wine. Jane, my diligent copy-editor, explained to Ibis about interacting with customers on line. Ibis, my new marketing assistant, nodded and asked questions while taking mental notes. I hope we didn't overwhelm her. Rick, my design director, tossed in a few ideas and mentioned how identifying the right book for the right group of people was key. I mostly sat and listened to the excitement at the table, throwing in my own ideas and thoughts, arguing with Jane over the term "framing the message," reassuring Ibis that I would help her and teach what needed to be done, and smiling at Rick, who really made the whole thing possible. Medusa may have been my dream and I may be the drive that holds the press together, but without his technical expertise, not a single book would have made it into the world.
Medusa's Muse feels like a brand new company, thanks to fresh blood and fresh energy. Thank you Ibis, for giving us your time and ideas. I think you're going to love book publishing.
The New and Updated Awesome Staff of Medusa's Muse, 2012
Terena Scott, Publisher/ Editor/Marketing Director
Jane Mackay, Co-Editor/Copy Editor
Rick Wismar, Book Designer and I.T Support
Ibis Klimicek de Villa, Marketing Assistant
It's Tax Time. Do you know where your receipts are?
To contact us Click HERE
The H and R Block office has reopened and there are signs all over town announcing deals on tax preparation. That can mean only one thing: it's tax time. The wonderful time of year when we all whimper at the pile of paperwork and forms demanding our immediate attention, realizing we've lost most of our receipts, and we have no idea if we got all of our 1099's and W2's from everyone we worked for.
This is also an excellent time of year to crack open that expensive bottle of scotch Uncle Jo gave us for Christmas.
When I was writing What You Need to Know to Be a Pro, I decided not to include a chapter about taxes because the tax code changes all the time. There is plenty of info throughout the book about keeping track of expenses in preparation of tax season, but I skipped specific info about filing. Instead, I research taxes every year and post my findings on this blog.
First, I found this video on ehow. It's more about keeping track of deductions rather than forms, but she explains receipts very well. The presenter in the video has a whole series about Freelance Writing.
Taxes & Being a Freelance Writer —powered by eHow.com
And here are a few articles I found this morning. Click the links to read the full article.
Writing.org Taxes for Freelancers
Did you earn your first income from freelancing last year? If so, you're in for a new adventure: calculating your income and Social Security taxes as a self-employed person.
The basic principle of paying freelance taxes is simple: You add up your income, deduct your expenses, and transfer the net profit or loss to Line 12, "Business income (or loss)," on Form 1040.
Unfortunately, what's simple in principle can be complicated in practice. Here are a few guidelines to help you get started:
Tax Issues for Freelance Writers
Here are some tips and strategies for thinking about your taxes. There are special circumstances that apply to freelance writers and other independent professionals, so I will highlight what you need to know to prepare your taxes.
Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, freelancers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees.
I really like this next article, written by a freelance writer and business expert.
Blue Inkwell Taxes for the Freelance Writer
Setting up shop as a freelance is easy enough. Unfortunately, most novices don’t think about the tax implications of what they’re doing until their first tax season rolls around. Then the questions pour out.
What do I have to claim?How do I deal with 1099s?What classifies as a deduction?Am I supposed to pay quarterly taxes?
I'll keep researching the tax code for 2011 and post what I find here. If you have any helpful articles, post the link in comments.
And good luck with the receipt hunt. Check your car. I found lots of Medusa receipts in mine.
This is also an excellent time of year to crack open that expensive bottle of scotch Uncle Jo gave us for Christmas.
When I was writing What You Need to Know to Be a Pro, I decided not to include a chapter about taxes because the tax code changes all the time. There is plenty of info throughout the book about keeping track of expenses in preparation of tax season, but I skipped specific info about filing. Instead, I research taxes every year and post my findings on this blog.
First, I found this video on ehow. It's more about keeping track of deductions rather than forms, but she explains receipts very well. The presenter in the video has a whole series about Freelance Writing.
Taxes & Being a Freelance Writer —powered by eHow.com
And here are a few articles I found this morning. Click the links to read the full article.
Writing.org Taxes for Freelancers
Did you earn your first income from freelancing last year? If so, you're in for a new adventure: calculating your income and Social Security taxes as a self-employed person.
The basic principle of paying freelance taxes is simple: You add up your income, deduct your expenses, and transfer the net profit or loss to Line 12, "Business income (or loss)," on Form 1040.
Unfortunately, what's simple in principle can be complicated in practice. Here are a few guidelines to help you get started:
Tax Issues for Freelance Writers
Here are some tips and strategies for thinking about your taxes. There are special circumstances that apply to freelance writers and other independent professionals, so I will highlight what you need to know to prepare your taxes.
Being self-employed is quite possibly one of the best tax strategies available today. Unlike being an employee, freelancers are in full control of their financial and tax situation. But independence also comes at a cost. Independent contractors face higher taxes and more record keeping duties than employees.
I really like this next article, written by a freelance writer and business expert.
Blue Inkwell Taxes for the Freelance Writer
Setting up shop as a freelance is easy enough. Unfortunately, most novices don’t think about the tax implications of what they’re doing until their first tax season rolls around. Then the questions pour out.
What do I have to claim?How do I deal with 1099s?What classifies as a deduction?Am I supposed to pay quarterly taxes?
I'll keep researching the tax code for 2011 and post what I find here. If you have any helpful articles, post the link in comments.
And good luck with the receipt hunt. Check your car. I found lots of Medusa receipts in mine.
Kaydol:
Kayıtlar (Atom)